Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-05-07
COTTON CONGRESS
Permanent Organization of the Co.
Operative Manufacturing ALI
ance OF Texas.
A Board of Directors Elected and BY Laws
Acknowledgements Taken
Until August Next.
Special to the Gazette.

was opened with prayer by Rev. MIR.
Ethridge. 1t was announced that the
committee of eleven was ready, and they
submitted the following report which was
received and adopted:
! l. The name of this association shall be
known as the Cooperative Manufacturing
Alliance of Texas.
! 2. The business OF this association shall
! be managed and controlled by thirteen
trustees, who shall be known as the gen.
eral board of directors.
3. No person shall be eligible to Office
as director of this association unless he
| is a stockhelder and member in good
standing of the Farmers Alliance.
1. The regular meeting of the stock
! holders shall be held annually in August
with aud during the meeting of the Farm
ers' State Alliance.
5. The first general board of directors
shall be elected by the Cotton Congress
now in session in Waco as follows: One
from each congressional district and two
from the state st large, and they shall
hold office until the regular meeting in
August, 1883, and always thereafter said
board shall be elected by stockholders at
each regular August meeting assembled.
6. The general board of directors shall
elect from their body president and
viCe-president.
Z. The general board of directors shall
have full power to employ or discharge 3
secretary and treasurer and such other
agents and employees as they may deem
proper, and in all cases shall take 8 good
and sufficient bond to cover all RESPONSE
biliti wherein their judgment the inter-
est of the order requires.
s. The general board of directors shall
give notice of all meetings of the stock
holders by publishing 8 tatement of the
time and place of such meeting for at
least thirty days.
8. The general board of directors shall
meet quarterly, and shall at all times be
subject to the call of the chairman.
10. The object of this association shall
be to assist, direct, harmonize and sus-
tain all alliance cooperative associations
that may by proper application to the
board of directors be received and
adopted as branch Of this association
II. This association may have as many
branch cooperative associations in the
state of Texas as in the discretion of the
board of directors seem necessary in the
full deV elOpment of the manufacturing
enterprise of the order, provided each
branch shall comply with the bylaws
hereof.
u. Any alliance cooperative associa-
ton wishing to avail itself of the adyan-
tages to be derived as a branch of this
association shall file with the board of
directors copy of their proposed by
laws, rules and regulations, together with
statement in full of their plan of con-
! Quoting the business and accurate de-
I ~ +An
posed to manufacture.
Is. The general board of directors,
when any cooperation soalI file a show
ing as above specified shall at their first
annual meeting thereafter make a care
full examination of said showing, and if
they shall find, first, that said assocIa-
ton is to be conducted on cooperative
plan; second, that it will be absolutely
under the control of the stockholders be-
| longing to the Alliance; third, that it
will conform to the bylaws of
this association; fourth, that the
product they propose to manufacture is
not identical with that already proposed
| to be manufactured by the same alliance
cooperation association already g branch
Of this associatiOH,s so as to produce con-
tilCt in the same; when, and in that case,
! they shall issue written certificate of
! an adoption, stating that such CO.
! operative association is a duly TecOg-
nized branch of this state association,
and that its stock is recommended
as safe, worthy and advisable sinvest
ment, and that all persons dealing with
said association either in the purchase
of stock, or purchase and sale of COM
mOdities, are notified that said associa-
ton has the Endorsement of this state
association.
IA. When any branch of this associa-
ton shall make application to the general
board for funds to assist in starting
or to conduct its business they shall
make true statement of the amount of
cash capital already paid into the treas
ury of said branch and shall hypOthecate
an amount OF their capital stock, equal 10
the amount of funds desired, provided
the amount so applied for shall not ex-
coed the amount of cash capital stock
paid in.
10. When application Shall have been
made in conformity with section IA, it
shall be the duty of the general board of
directors to advance the funds of this as
ISOLATION as therein specified and as in
their Judgment and ability may seem
best, for the whole amount or any part
thereof.
16. The capital stock of this associs-
ton shall be divided into shares of So
each, and every application for stock
shall be accompanied by 10 per cent. of
the face value thereof, and one-half of the
unpaid amount of stock so subscribed
shall be due and payable on the 1st day
of October following, and the remainder
on the same date one year thereafter.
II. Ten per cent. of the gross cash re-
ceipts from the sale and assessment of
capital stock ishall be set aside as the
available fund, and from which the run
ring expenses of the association are to
be paid; provided the business of the
association is to be conducted In frugal
and economic manner, and that all sur
plus of said fund will at the end of each
year be placed in the general fund
Is. Each shareholder of capital stock
shall be entitled 10 one vote only;
provided he be member
of the Farmers Alliance in
good StaO0inO and M omOunt IF stool